UN: “Blockchain technology can fight climate crisis”

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[Blockchain Today Reporter Jeong Seung-won] The UN is analyzing the use of blockchain to increase data reliability on harmful greenhouse gas emissions.

Despite persistent concerns that Bitcoin (BTC) generates carbon, the United Nations said the underlying technology of cryptocurrencies has a lot of potential to solve global problems such as climate change, Cointelegraph reported.

According to the official website of the United Nations on the 202nd (local time), the United Nations will continue to explore ways to use blockchain technology as a way to combat the climate crisis and achieve a sustainable global economy.

UN experts are confident that “cryptocurrency and technology can play an important role in sustainable development and environmental protection”. In addition, he added that it could actually improve environmental responsibility, and presented a number of environmental and sustainability benefits associated with blockchain. This includes increasing transparency about fraud, climate finance and clean energy markets.

The article mentions that the United Nations Environment Program has a partnership with the Danish Institute of Technology, noting that many countries have data on hazardous greenhouse gas emissions, but they are unreliable and incomplete.

By providing immutable data, blockchain solutions can provide a transparent way for countries around the world to take action to reduce their climate impacts.

Blockchain could also play an important role in propelling renewable energy sources such as wind and solar power by providing the tools to shape the clean energy market. He noted that these renewable energy sources are inherently decentralized, requiring a new type of energy market.

“Cryptocurrency is still in its infancy and there are still many technical and political challenges to overcome, including environmental issues and volatility,” the UN said.

“The most vulnerable is to benefit from the promise of blockchain technology, and a truly positive impact on the climate crisis will require a lot of technical research and international dialogue involving experts, scientists and policy makers,” he said. .

Minang Acharya, one of the authors of the United Nations Environment Program Korea Association’s Blockchain Applications Overview, said, “The United Nations should continue to test blockchain to learn about its environmental impact.” “Blockchain trials will improve the UN-wide knowledge and understanding of the environmental and social impacts of mining operations, and will increase the likelihood of addressing the challenges the technology may bring in the future,” he said.

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